Morning Movers: Express Plunges 18%, Jamba and Apple Climb Higher

Shares of Express (NYSE:EXPR) dropped more than 18 percent on Tuesday. The apparel chain announced its third quarter earnings would miss its forecast. Higher than normal promotional activity had to be taken in order to reduce inventory levels.

Jamba (NASDAQ:JMBA) shares jumped 2.21 percent this morning after being named a top turnaround stock from Khaner Capital’s Lloyd Khaner. He believes a low debt to capital ratio and an experienced chief executive officer makes it a good investing play. Jamba’s return on invested capital has also been showing signs of improvement.

Apple (NASDAQ:AAPL) shares ticked slightly higher this morning. A major Apple investor recently told Fortune that he had heard from “multiple sources” that invites will be sent out on October 10 for an iPad Mini media event scheduled for Wednesday, October 17.

Shares of Oracle (NASDAQ:ORCL) continued to climb higher in morning trading by popping 0.19 percent. At a customer conference in San Francisco, Oracle CEO Larry Ellison announced that the company will be adding infrastructure as a service to its Oracle Public Cloud. Oracle’s computing on demand services are quickly taking aim at those offered by Amazon (NASDAQ:AMZN) and Google (NASDAQ:GOOG).